Last week I talked about over improved homes. And for pure investment...buying an over improved house is not advisable!
But for others... there is an exception.
And it depends on their needs.
People need a guest space. People need an in-law suite.
People need room for a special family member. People have a boomerang kid and a grandchild. People need space for an adult child who is willing to live in and help. People need a teenage retreat. People need a home office. People need live-in caretakers. People need to rent part of their property to help pay the mortgage. People like RE agents need a separate space.
People have a special business or hobby. People do ballroom dancing, massage therapy, consultation, homeschooling...
Are you getting the idea?
Most of these needs can be met by what you might call an over-improved home.
And this is what I am looking for.
If you have a home that is over-built for the neighborhood...there are buyers. It may take a bit longer. You probably won't have multiple offers.
Buyers are looking for what you have.
This week a call came in about a home that started at less than 3000' and wound up over 6500'. Why? Because it met their needs. They made room for parents...first his.. then hers...each required special additions... It kept growing as the family's needs changed. And then it changed again. The dad passed away and a few years later the mom also died. Now we are back with a home that is way bigger than is needed.
The decision now... is to stay or go?
Not everyone wants a cookie cutter house.
If you feel your home is unique, too big, has unusual features... there may be others who have needs to fit your property.
Over-improved homes do sell.
Thinking of selling your home
Call Margaret Rome.